The FTSE-100 Index slipped back in early trading today in the wake of Friday’s 265-point fall by the Dow Jones Industrial Average. By 9am the FTSE was off 30.5 points at 6495.5.
The figure, though broadly accurate, was only an indicative number, as FTSE International suffered a glitch in calculating the precise level. The glitch came as the most recent review of the Index’s members came into effect.
Companies joining the FTSE lost ground, with Scottish & Newcastle Breweries down 12p to 550p, technology firm Bookham down 90p to £34.10 and distributor Ocean Group down 25p to £10.75.
But the tech companies dumped from the top-flight index told a different story. Handheld computer firm Psion surged 85p to 595p and Baltimore charged 59p higher to 509p.
Internet software firm InterX also jumped, gaining 100p to £13.62p after announcing Phil Crawford, formerly of international computer services group EDS, was joining as chief executive. Meanwhile electronics and computer technology company Scipher jumped 45p to 545p as it announced a strong set of maiden figures following its flotation in February.
Property group Liberty International put on 13.5p to 535.5p after it announced it was offering 575p a share for the near 30% stake in its business held by South Africa’s Standard Bank. Standard had already agreed to sell the stake for around 520p to Liberty’s rival British Land, up 1.5p to 398p.
EGi News 19/06/00
